Together with credit information and risk assessment firm Krediidiinfo, several Estonian banks are starting a new borrower database on Monday. Provided the private individual in question agrees to such an exchange, the system will facilitate the exchange of information about loan applicants.

In addition to Krediidiinfo, which has offered this kind of service since the early 1990s, LHV Bank, Bigbank, and Inbank are participating in the project, among others.

Krediidiinfo calls the new database its “Positive Register”. As the company stated early on Monday, Estonia is one of the few European countries that so far didn’t have such a register.